> For the complete documentation index, see [llms.txt](https://docs.ipor.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ipor.io/resources/resources/research-and-whitepapers.md).

# Research and Whitepapers

​[Overview of all IPOR Labs research papers](https://ipor-labs.notion.site/e592feae2660418a90c35434849f0c0b?v=d35d84b479204c26bc1bb30d2b8ace4a) on Notion.

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[**Pricing Liquidity on Real World Assets in DeFi**](https://ipor-labs.notion.site/Pricing-Liquidity-on-Real-World-Assets-in-DeFi-33d68a3d76da8019aa34cc3fe9990762)

*Authors: Mau Hernandes, Ph. D.* 

**Date: April 2026**
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[**IPOR Fusion vs Merkle-Proof Gated Vaults: Imperative–Declarative Execution, Polymorphic Vault Runtimes, and Why Rigidity Matters**](https://www.notion.so/ipor-labs/IPOR-Fusion-vs-Merkle-Proof-Gated-Vaults-Imperative-Declarative-Execution-Polymorphic-Vault-Runtim-2e768a3d76da802cb7b2f4cce9473ae8?v=d35d84b479204c26bc1bb30d2b8ace4a\&source=copy_link)

*Authors: Mariusz Szpiler*

**Date: January 2026**
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**​**[**xUSD Contagion: Second-Order Risks and the PT Yield Curve as a Risk Management Tool**](https://www.notion.so/ipor-labs/xUSD-Contagion-Second-Order-Risks-and-the-PT-Yield-Curve-as-a-Risk-Management-Tool-2a868a3d76da80c2b1b2f6915c429779)

*Authors: Mau Hernandes, Ph. D.* 

**Date: November 2025​**
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**​**[**The IPOR Automated Market Maker (AMM) V2**](https://ipor-labs.notion.site/e592feae2660418a90c35434849f0c0b?v=d35d84b479204c26bc1bb30d2b8ace4a\&p=2e15029e3d2d4731991f7fcd1d0ffee6\&pm=c)**​**

*Authors: Mau Hernandes, Ph. D.* 

**Date: December 2023​**
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**​**[**The IPOR Automated Market Maker (AMM)**](https://ipor-labs.notion.site/The-IPOR-Automated-Market-Maker-AMM-2d1e187f699d4ce7a5d00dfc1b52b194)**​**

*Authors: Mau Hernandes, Ph. D.* 

**Date: August 2022​**
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**​**[**Estimating Fair Value of IPOR SWAPs**](https://ipor-labs.notion.site/Estimating-Fair-Value-of-IPOR-SWAPs-a3f27ff952564934913c59119564a6d8)**​**

*Authors: Iain Clark, Ph.D.; Mau Hernandes, Ph. D.* 

**Date: August 2022​**
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**​**[**The Fair Price of IPOR SWAPs via Longstaff-Shwartz**](https://ipor-labs.notion.site/The-Fair-Price-of-IPOR-SWAPs-via-Longstaff-Schwartz-b319eb6bbb9d4dbd834a2018704438ca)**​**

*Authors: Iain Clark, Ph.D.; Mau Hernandes, Ph. D.* 

**Date: July 2022​**
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**​**[**Simulating DeFi Interest Rate Swap trades with Hawkes Process and Synthetic data**](https://ipor-labs.notion.site/Simulating-DeFi-Interest-Rate-Swap-trades-with-Hawkes-Process-and-Synthetic-data-ebffce62f7fe4e19961604b10ea94391)**​**

*Author: Mau Hernandes, Ph.D.* 

**Date: July 2022​**
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**​**[**IPOR Index - The Heartbeat of DeFi** ](https://ipor-labs.notion.site/IPOR-Index-The-Heartbeat-of-DeFi-955bac03e3b147c09789cb0920b90b54)**​**

*Author: Mau Hernandes, Ph.D.* 

**Date: April 2022​**
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**​**[**IPOR: An Inter-protocol Offered Rate for Decentralized Finance**](https://app.gitbook.com/o/-Mb-rool_7klO2TEFlki/s/OtovJE7zoKEcRr7kInUn/research-whitepapers/white-paper)**​**

Authors: *Darren Camas, Mauricio Hernandes, Ph.D., Dimitar Dinev* 

**Date: March 2021**
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